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Ninth Circuit Bankruptcy Appellate Panel Considers “Good Faith” Requirement for Discharge of Student Loans
Student loan debt presents a significant problem for individuals seeking bankruptcy protection under Chapter 7 of the Bankruptcy Code. Federal law specifically excludes student loans from discharge, unless a debtor can show “undue hardship” to themselves or their...
Singer Toni Braxton Recovers Quickly from Chapter 7 Bankruptcy
Personal bankruptcy can help people recover from serious financial distress, when they no longer have enough consistent income to pay their bills. A major concern for people considering bankruptcy is the effect it will have on their credit and their future financial...
Bankruptcy Court Grants Discharge of Student Loans, Finding that Debtor’s Mental Illness Constitutes “Undue Hardship”
A bankruptcy court recently granted a debtor’s request to discharge his student loan debt in a Chapter 7 proceeding. Federal bankruptcy law prohibits discharge of student loan debt except in extremely limited circumstances. The court found that repayment of the full...
Singer Aaron Carter’s Chapter 7 Bankruptcy Includes Substantial Debts Incurred Before Age 18
Aaron Carter, who achieved fame as a singer in the late 1990s and early 2000s, filed for Chapter 7 bankruptcy in Florida in October 2013. In his petition, he lists assets of just over $8,000 and debts of more than $2 million. More than half of the debts, including a...
California Bankruptcy Court Reviews Grounds for Dismissing a Chapter 7 Case for Abuse
Federal law allows bankruptcy courts to dismiss a Chapter 7 petition if it finds that granting a discharge of debt would constitute an abuse of the bankruptcy system. A debtor must overcome a presumption of abuse by using the Chapter 7 “means test” to show that their...
Automatic Stay Does Not Prevent an Eviction Authorized in an Earlier Bankruptcy Case
A Chapter 13 debtor appealed a bankruptcy judge’s order granting relief from the automatic stay to a credit union, which sought to evict them after a foreclosure. The Bankruptcy Appellate Panel (BAP) for the Ninth Circuit affirmed the lower court’s order, finding that...
Los Angeles Bankruptcy Court Rules on Whether Automatic Stay in Personal Bankruptcy Applies to Corporation Owned by Debtors
Two debtors, a married couple, brought an adversary proceeding against a bank, claiming that it violated the automatic stay by continuing to prosecute a lawsuit in state court against a corporation in which they were the sole shareholders, by filing another lawsuit...
The Strange Case of Gift Cards and Bankruptcy in California
When a retail business closes or files for bankruptcy, what becomes of the unused gift cards and gift certificates that it has issued to consumers? The question has unfortunately become common for both businesses and consumers. A similar question can apply to...
Court Converts Bankruptcy Case from Chapter 13 to Chapter 7 Based on Finding that Debtor Withheld Information
A federal district court affirmed a bankruptcy judge’s order converting a Chapter 13 bankruptcy to a Chapter 7 based on a finding of bad faith on the part of the debtor. In re Killian, No. 3:12-cv-03156, order (C.D. Ill., Sep. 30, 2013). Federal bankruptcy law allows...
Art Collection Goes up for Auction as Part of Bankruptcy Liquidation
An upcoming art auction, conducted by the famous auction house Sotheby’s, will put over two hundred pieces up for sale as part of an asset liquidation in the ongoing bankruptcy of Ralph Esmerian. Esmerian, the former owner of a luxury jewelry retailer, pleaded guilty...
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